TORONTO, CANADA--(Marketwire - May 29, 2012) - Soricimed Biopharma Inc., a private company developing novel cancer therapeutics and diagnostics, is pleased to announce that the Investigational New Drug (IND) Application for SOR-C13 as an anti-cancer agent has been cleared by the U.S. Food and Drug Administration (FDA). Soricimed has also received clearance for a Clinical Trial Application for SOR-C13 filed with Health Canada.

SOR-C13 is a targeted peptide that inhibits the non-voltage gated calcium channel found in epithelial cancers such as ovarian, breast, prostate and others. Pre-clinical studies have shown that SOR-C13 induces apoptosis (cell death), inhibits cell proliferation and reduces tumor volume while minimizing side effects associated with typical chemotherapy.

Soricimed's Phase I trial is a multicenter, open-label, dose escalation study taking place at leading U.S. and Canadian cancer centers. The trial is designed to assess safety and tolerability in patients with advanced cancer tumors, with a weighting on ovarian cancers. The trial will also assess pharmacokinetics, biomarkers and initial evidence for efficacy.

Jack Stewart, Chairman and Chief Scientific Officer of Soricimed Biopharma commented, "Acceptance by the FDA and Health Canada of this application, along with the advancement of SOR-C13 to clinical testing are two major milestones for Soricimed and key steps along the path to the drug's development and commercialization. The data generated from our Phase I trial will educate us about the safety of SOR-C13, setting us up for future studies."

ABOUT SORICIMED BIOPHARMA

Soricimed Biopharma Inc. is a private drug and diagnostic development company created in 2005 by Professor Jack Stewart and Paul Gunn following the discovery and development of a proprietary peptide, soricidin. Soricidin is the basis for Soricimed Biopharma Inc.'s targeted cancer management program focused on cancer therapeutics and diagnostics. Using focused innovative strategies in collaboration with major world-class cancer research institutions, Soricimed's drugs have demonstrated a capability to reduce cancer cell viability, induce apoptosis and to reduce human tumour volume while minimizing side-effects in various classic animal and in vitro tumour models. Privately held, Soricimed is funded through private investors and various programs from the Government of Canada. For more information visit, www.soricimed.com